Exhibit 10.1
[First Tennessee Letterhead]
May 12, 2005
Mr. Andrew Clarke
Forward Air Corporation
P.O. Box 1058
Greeneville, TN 37744
Re: Forward Air Corporation Credit Facility
Dear Andy:
Concerning the terms of the Loan and Security Agreement date September 10, 1998 ,and the Modification Agreement dated June 18, 2002 First Tennessee Bank (The Bank) agrees to the following:
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The Bank extends the maturity date on the $20,000,000 Master Secured Promissory Note dated September 10, 1998 (the Line of Credit) to April 30, 2007. |
This agreement constitutes a one time modification to the specific items addressed above. All other terms and agreements of the Loan Documents remain in full effect and force.
Sincerely,
/s/ Steve Mears
Steve Mears
Senior Vice President
Accepted as of the 17th day of May, 2005
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By: /s/ Andrew C. Clarke |
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Andrew Clarke, Chief Financial Officer |
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Forward Air Corporation |